Billionaire’s In The Chinese Medicine Industry

Posted by Cathy on

This past weekend, Forbes published a story about a billionaire family who's family fortune is growing due to their investments in Chinese herbal medicine.

The company, called Shijiazhuang Yiling Pharmaceutical gained 5.6% to close at 47.20 yuan, or $7.37.  A rise 29% on its first day of trading. Most of money will be used to expand production of Chinese herbal medicines for cardio-cerebrovascular illness and the flu.

The Yiling’s 2010 revenue was approximately 1.6 billion yuan last year.

The family of chairman Wu Yiling, who with his children own 59% of the herb company, is currently worth $1.7 billion.

Wu is a graduate of Hebei Medical University with a bachelor’s degree in Traditional Chinese Medicine, TCM,  and also holds a master’s degree in medicine from the Nanjing University of Chinese Medicine.

China had a record 115 billionaires on the 2011 Forbes Billionaires list published earlier this year. To have a family in the Chinese herbal medicine business shows the expansive growth of Chinese herbs both in China and around the world.